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Copper market surplus fell to 209,300 in 2009-WBMS

Tuesday, Feb 23, 2010
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LONDON, Feb 17 (Reuters) - The global copper market recorded a surplus of 209,300 tonnes in 2009, down from 380,000 tonnes in 2008, the World Bureau of Metals Statistics (WBMS) said on Wednesday.


"Global consumption for the 2009 calendar year was 18.43 million tonnes which was 1.8 percent higher than the same period of the previous year," the British-based consultancy said in a monthly report.


World mine production of copper in January to December was 15.88 million tonnes, 2.2 percent higher than in 2008. Refined production rose by 0.9 per cent to 18.64 million tonnes.


The aluminium market registered a surplus of 587,000 tonnes in 2009, versus a surplus of 1.9 million tonnes in 2008, WBMS said.


WBMS said the lead market was in deficit by 19,900 tonnes in 2009 compared to a deficit of 93,000 tonnes in 2008 and the zinc market was in surplus by 207,000 tonnes in 2009 versus a 2008 surplus of 181,000 tonnes.


The nickel market was in surplus during 2009, with supply exceeding apparent demand by 3,000 tonnes, while in the tin market there was a 2009 surplus of 12,900 tonnes in 2009.


(Reporting by Rebekah Curtis; Editing by Amanda Cooper)

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